Mixed-Use Building with
700 Northwest Highway, Fox River Grove, IL 60021
For Sale
$790,000
Restaurant, warehouse, and apartment spaces are combined in a two-story commercial property.
Property Size4,428 SF
Lot Size0.49 Acres
Price / SF$178.41
Days on Market580
Property Features for 700 Northwest Highway
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Site & Location
Frontage
Highway Access
Road Access
Warehouse & Industrial
Warehouse Space
Cold Storage
Restaurant
Commercial Hood
Grease Trap
Equipment Included
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Parkvue Realty Corporation
Listed By:
Anthony Disano · License #471010606
(312) 788-4040
Source:
Crossdavidson
Added: Apr 9, 2025
Changed: Nov 8
Last Checked: Nov 8 at 8:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Parkvue Realty Corporation
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Investment Insights
Based on property information with market context.
This 4,428-square-foot, two-story mixed-use building, constructed in 2000, sits on a 0.49-acre parcel and carries COMMR zoning. The 2,400-square-foot restaurant area has a kitchen with a pizza oven, hood and Ansul system, stove, fryers, walk-in cooler, and grease trap. A 1,235-square-foot basement provides additional storage. Residential space includes three second-floor apartments: two with two bedrooms and one bathroom each, and one with a bedroom and bathroom. The approximately 1,400-square-foot warehouse and garage area also contains a one-bedroom, one-bathroom apartment.
The property has 81 feet of frontage on Northwest Highway in Fox River Grove, Illinois. Its mix of restaurant, storage, garage, and residential areas is housed within one building.
The property has 81 feet of frontage on Northwest Highway in Fox River Grove, Illinois. Its mix of restaurant, storage, garage, and residential areas is housed within one building.
Key Highlights
- 4,428‑square‑foot building on a 0.49‑acre lot
- 2,400‑square‑foot restaurant with a pizza oven, Ansul hood system, fryers, walk‑in cooler, and grease trap
- 1,235‑square‑foot basement and approximately 1,400‑square‑foot warehouse/garage area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,999
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,980
$1.0M
Cap Rate 7%
$742,843
$742.8K
Cap Rate 9%
$577,767
$577.8K
Market Conditions
NOI Build-Up for 4,428 SF
Gross rent
$74.4K $16.80/SF
− Vacancy
−$5.1K −$1.14/SF
EGI
$69.3K $15.66/SF
− OpEx
−$17.3K −$3.91/SF
NOI
$52.0K $11.74/SF
Area
McHenry County, IL
Vacancy
6.80%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,980
Cap Rate 7%
$742,843
Cap Rate 9%
$577,767
Alternative Uses
Best Use
Specialty Retail
$742.8K
$650.0K – $866.7K
NOI $51,999 @ 7.0% cap · market cap 6.58%
Second Best
Mixed Use
$654.7K
$572.9K – $763.8K
NOI $45,830 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,015 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 60021, IL
5,404
Population
1,968
Households
2.7
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
2.0 sq mi
ZIP Area
2,702
Density / Sq Mi
$122,005
Median Household Income
$59,030
Median Earnings
$2,134
Median Rent
$286,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant, warehouse, and apartment spaces are combined in a two-story commercial property.
Where is this mixed-use property located?
The property is located at 700 Northwest Highway Fox River Grove, IL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 4,428‑square‑foot building on a 0.49‑acre lot; 2,400‑square‑foot restaurant with a pizza oven, Ansul hood system, fryers, walk‑in cooler, and grease trap; 1,235‑square‑foot basement and approximately 1,400‑square‑foot warehouse/garage area
